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Alternergy recovers to post P38-million profit

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Alternergy Holdings Corp. said Monday it posted a consolidated net income of P38 million for the fiscal year ended June 2023 on increased revenues, recovering from a net loss of P145.2 million in the same period last year.

The company allocated P720 million for the pre-development of six renewable projects totaling 183 megawatts from its IPO proceeds. These projects are the solar farm and battery project in Palau and two run-of-river hydro projects in Nueva Ecija and Ifugao.

 

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